The recent Dogecoin market action has seen its price now hovering below $0.20 after surging to $0.208 in the past 24 hours. Despite the consolidation, analysts and traders are watching the meme coin closely, believing that the next major move could redefine its long-term trajectory. 

Among those voices is crypto analyst EtherNasyonaL, who predicted that Dogecoin’s third and most powerful bullish phase is still ahead. His technical analysis on the monthly chart presents a structure that reveals the groundwork for another massive uptrend to above $0.8 is already in motion.

Dogecoin’s First Two Bull Waves Set The Stage

The monthly candlestick price chart shared by EtherNasyonaL calls attention to Dogecoin’s cyclical nature since 2014, showing two completed bull waves and a third one forming. Each of these bullish waves was formed after Dogecoin broke above and then retested the upper trendline of a descending channel of lower highs that had confined its price action in the preceding years. This retest was also highlighted by a confluence of the 25 Moving Average (MA) indicator.

The first wave, which began in 2017, caused Dogecoin’s earliest exponential rise from near-zero levels, right when the meme coin entered into popular crypto discussions. The second, and far more explosive, bull wave occurred between 2020 and 2021, when Dogecoin surged from under $0.003 to an all-time high of $0.7316, which has stood until now. 

Each bull run started once Dogecoin reclaimed its 25-month moving average as support, following extended consolidation periods that spanned multiple months. The current setup reflects the same condition, as the 25MA line has once again turned upward, and Dogecoin has successfully retested the upper trendline of its previous descending channel, as shown in the chart below.

Dogecoin 1M price chart. Source: @EtherNasyonaL on X

3rd Bull Wave Setup: Resistance Retested, Accumulation Ongoing

The analysis reveals that Dogecoin has recently broken free from a long-term downtrend that spanned between mid-2021 and early 2025. Notably, recent crypto market liquidation events in October have seen the Dogecoin price complete a successful retest of the resistance level, now turned support, around the $0.17 to $0.20 price range. 

This successful retest also coincides with a simultaneous bounce off the bottom trendline of an ascending channel. EtherNasyonaL describes the current price action as Dogecoin “accumulating strength in the lower band of a years-long ascending channel.”

The projected trajectory on the chart above shows Dogecoin following its established pattern by moving from the lower region of the ascending channel to its upper boundary. If the third bull wave plays out as the previous two did, Dogecoin’s price could challenge its $0.73 all-time high and break into new price territories.  The first price target in this case is the $0.8 mark, and then as high as $4 in the long term. 

Crypto analyst Bobby A is warning that the XRP price may face trouble soon. He says the large monthly chart is showing weak signs, and this could mean the market is turning bearish again. The analyst thinks the price might need to drop further before it can move higher. 

Bearish Signals Showing On The XRP Price Monthly Chart

Bobby A says the big XRP chart does not look healthy right now. He explains that many important monthly indicators are crossing bearishly. He says XRP is trading below the 1.618 level, and the price action there looks like a rejection rather than a breakout. He thinks this rejection is happening at a terrible time for XRP, noting that the monthly candle is closing near the BMSB line, another dangerous sign for the price.

Bobby A reminds traders that when the Bressert indicator crosses bearish on the monthly chart, history shows it has never been good for XRP. He believes that history could repeat itself, and these bearish signals are evident on the chart right now, suggesting the mid-term trend may not be strong. His analysis says that in six days, XRP will be facing the monthly candle close again, and facing it while price action is weak is usually not a good sign. He is worried because the chart’s overall structure shows more weakness than strength at this time.

He explains that when a chart shows this kind of technical damage, the smart move is to stay alert. He says traders must focus on risk control during times when the big charts start to flash warning signs. He shares this because he has trusted his chart study before when XRP was under $0.30, and now he needs to trust what he sees again with XRP above $2. He says the market can change very fast, and traders must be ready for those changes.

XRP May Drop To Lower Support Before Moving Up Again

Right now, XRP is already making a small move downward. Bobby A says this retracement is happening in real time. He warns that XRP could roll over again and retest lower price support levels. If this happens, the token price could fall under $1 to find more substantial support before it tries to recover. He believes there is a real and present risk that the price will crash below $1 if sellers keep pushing it down.

He advises traders to protect their money and manage their trades carefully. He says capital safety must come first in times like these. Even though he still believes in XRP’s long-term future and remains a strong supporter of the project, he feels the odds right now point to lower prices in the mid-term. He says this is because the latest market signs are not strong enough to support a big bullish move yet.